Poshmark Stock Blasted with Bear Notes on Dismal Forecast

The security has struggled since first going public in January

Digital Content Manager
Mar 12, 2021 at 10:31 AM
facebook twitter linkedin


The shares of Poshmark Inc (NASDAQ:POSH) are down 21.1% at $46.85 at last check, despite the consignment e-tailer reporting a fourth-quarter earnings and revenue beat. What is weighing down the security instead is a disappointing current-quarter outlook, with the company noting that deliveries have struggled due to a harsh winter and Covid-19 restrictions. In turn, at least five analysts handed out price-target cuts for POSH this morning, the most dramatic coming from Cowen and Company to $70 from $88.

The equity has been struggling since first going public in January, with shares dropping to a March 5, all-time low of $44.11. Meanwhile, both the $60 level and 20-day moving average seemed to have emerged as potential ceilings over the last few weeks. In the past month, POSH has lost 31%.  

Analysts are mostly optimistic towards the security, with five of the nine in question carrying a "buy" or better rating, while the remaining four call POSH a tepid "hold." Plus, the 12-month consensus target price of $68.13 is a whopping 40% premium to current levels, indicating more price-target cuts and/or downgrades could be on the horizon.

 

 

 

 

 

 

Now is the time to join our thriving community of Event Traders who consistently profit from every earnings season. With this discounted subscription opportunity, you'll stay ahead of the curve and seize opportunities others miss. Do not let Q3 earnings season pass you by – subscribe now and supercharge your portfolio with expert insights that turn market reactions into profit-generating opportunities!! Don't waste another second... join us right now before the next trade targeting +200% is released!